How to open an US Bank account without being an US citizen?

Discussion in 'Educational Resources' started by Daal, Oct 5, 2005.

  1. Daal


    I was planning on having a bank account in Jersey Islands but it will arise a suspicion on the goverment of my country (I dont want to live ilegally by not declaring it) so I'm going to avoid to use tax paradise countries.

    I'm planning on opening an US bank account because of banks here in brazil dont have wire transfers and doenst work as effectly as on US or england. Does anyone know which banks you can do that and what I will need(I'm not US citizen and dont have SSN)
  2. Some of my firends declared they are students.. A bank doesn't even look for a Student Visa.. You will need some kind of ID like passport.. Of course this was 2 years ago
  3. afedoro


    You will need to present a passport and to sign a tax form. Should not be a problem.

    By the way, I am very surprised that Brazilian banks would not support wire transfers. I think that's impossible. Wires are supported almost anywhere in the world. I am quite familiar with South America and have done wires in the past without any issue.

    As long as you have the bank's SWIFT code and the account number, you should be able to do wires almost anywhere.

    Maybe you should double check with your bank.
  4. Neodude


    I dont think you need to be a citizen or even have an Social security number, but you do need an F or J-visa if I am not mistaken. See below:

    "Banking: F and J-visa holders do not need a Social Security number to open a bank account or for most other financial transactions. The bank may ask F and J-visa holders to fill out Internal Revenue Service form W-8BEN to prove that they are exempt from the requirement of providing a Social Security number."

  5. Norm


    I had some clients in Brazil about four years ago. Wire transfers can be done, but there is a very heavy cost. The Brazilian governent taxes money leaving the country at a very high rate (I believe that is was something like 25-30%).

  6. afedoro


    I don't even think you need any visa. The only "issue" is that they may withhold 30% of all earned interest if you do not provide a social security number, although I don't think you'll be depositing money there with the main goal being to earn interest...
  7. afedoro


    Wow! 25-30% is insane!
    Some banks in the Andes take 0.75 to 1% as a "transfer fee" but that's about it...
    Most will just have fixed fees per amount bracket.